Wall Street brokerages expect Columbia Banking System, Inc. (NASDAQ:COLB) to announce $134.21 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Columbia Banking System’s earnings, with estimates ranging from $133.40 million to $135.01 million. Columbia Banking System posted sales of $108.07 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24.2%. The company is expected to issue its next quarterly earnings report on Thursday, January 25th.
According to Zacks, analysts expect that Columbia Banking System will report full-year sales of $134.21 million for the current financial year, with estimates ranging from $481.20 million to $482.83 million. For the next year, analysts expect that the company will report sales of $589.87 million per share, with estimates ranging from $583.60 million to $596.13 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.18. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The business had revenue of $126.00 million for the quarter, compared to the consensus estimate of $119.16 million. During the same period last year, the business earned $0.47 EPS. The firm’s revenue was up 16.9% compared to the same quarter last year.
In other Columbia Banking System news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the sale, the chief accounting officer now owns 11,250 shares of the company’s stock, valued at approximately $527,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.23% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Columbia Banking System by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,452,239 shares of the financial services provider’s stock worth $217,272,000 after purchasing an additional 88,252 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Columbia Banking System by 11.2% during the 2nd quarter. Franklin Resources Inc. now owns 2,708,796 shares of the financial services provider’s stock worth $107,946,000 after purchasing an additional 273,200 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Columbia Banking System by 1.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,114,137 shares of the financial services provider’s stock worth $84,248,000 after purchasing an additional 26,549 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Columbia Banking System by 4.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,964,964 shares of the financial services provider’s stock worth $82,745,000 after purchasing an additional 80,731 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Columbia Banking System by 0.9% during the 2nd quarter. Jennison Associates LLC now owns 1,499,439 shares of the financial services provider’s stock worth $59,753,000 after purchasing an additional 13,295 shares in the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.
Columbia Banking System (NASDAQ COLB) opened at $45.73 on Friday. Columbia Banking System has a one year low of $35.67 and a one year high of $48.06. The firm has a market capitalization of $3,326.73, a P/E ratio of 20.71, a P/E/G ratio of 2.07 and a beta of 1.24.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Monday, October 30th. Columbia Banking System’s dividend payout ratio (DPR) is currently 40.00%.
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About Columbia Banking System
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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